Magazine article Mortgage Banking

Retail Properties Solid for Sixth Consecutive Quarter

Magazine article Mortgage Banking

Retail Properties Solid for Sixth Consecutive Quarter

Article excerpt

ACCORDING TO CHICAGO-BASED CCIM INSTItute's and Chicago-based Landauer Realty Group Inc.'s CCIM/Landauer Investment Trends Quarterly (ITQ), retail properties nationwide have increased for six consecutive quarters, making the sector the only major property type to show continued growth since the first quarter of 2002.

Shopping centers generated 21.8 percent of the national investment volume, roughly equal to the percentage of sales reached in the first quarter of 2003. During the six quarters from first-quarter 2002, investment in retail properties nationwide increased 73 percent, a reflection of confidence in consumer spending, according to the ITQ report.

"Investors are shifting property-type preferences to add weight to apartments and retail facilities--beneficiaries of historically better risk-reward relationships," said Barry Spizer, 2003 CCIM Institute president.

The multifamily market also was active in the second quarter, generating 20 percent of the deals and 20.3 percent of the sales volume. Sales of apartments were spread among a wide range of complex sizes, with properties in the 200-to-500-unit range garnering 66. …

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